Russia expecting a near 15 percent growth in its car market this year

Article by Christian A., on February 12, 2011

Russia forecasts 2.19 million vehicles will be sold in 2011, lower than expectations by private industry body the Association of European Businesses (AEB), which predicted an 18 percent rise to 2.24 million cars in January 2011. The AEB estimates that Russian car sales will return to pre-crisis levels of 2.9 million units in 2012.

The Russian government is expecting a near 15 percent growth in its car market in 2011, around half last year's 30 percent rate, when the industry began to rebound strongly towards pre-crisis levels.

The head of Trade Ministry’s car industry department expressed optimism on the future of the automotive market in 2011. His department is responsible for Russia's state-sponsored scrappage scheme, which has done a lot to revive sales of locally produced cars after its introduction in March 2011.

The system, which increased sales of AvtoVAZ-produced Ladas, awarded RUB50,000 ($1,709) to drivers willing to trade in models more than 10 years old.

Russia was set to surpass Germany as Europe's biggest car market before the crisis but sales halved in 2009 as consumer confidence collapsed and access to credit dried up. [via autonews - sub. required]

Topics: russia

If you liked the article, share on:

Comments

Recommended

It is quite common to revive classic cars if you have a lot of extra money. Models like the Jaguar XKSS and Aston Martin’s DB4 GT have been upgraded to...
by - August 21, 2017
Famous designer of certain Ferrari vehicles like the Enzo Ferrari and the P4/5, Ken Okuyama has revealed another one of his designs at the 2017 Pebble Beach Concours over the...
by - August 21, 2017
The current generation of the BMW M3 (F80) sedan isn’t just sporty and luxurious in terms of looks, but also in terms of performance. Because of its athletic appeal, the...
by - August 21, 2017
A lot of us know Singer Vehicle Design and their signature work of reimagining Porsche 911s, and making them look like hot rods from the 70s. They are not alone...
by - August 20, 2017
August 17, 2017 is a sad day for the Dodge Viper, its fans, enthusiasts and its admirers. It is the day when the last Dodge Viper rolled off the assembly...
by - August 20, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries